The global cancer gene therapy market is expected to grow at a CAGR of 16.92% reach US$4.111 billion by 2024 from US$1.454 billion in 2018. Gene therapy is an experimental technique that involves the introduction of DNA usually containing a functional gene t into a patient for the treatment of genetic disorders. Gene therapy works by replacing, repairing or repressing of the mutated gene. Gene therapy is being studied in the treatment of certain types of cancer (source: National Cancer Institute, National Institutes of Health).
The growing incidence and prevalence of cancer worldwide are emanating the demand for the cancer gene therapy fuelling the market growth. Research and Innovations in the treatment of cancer are also driving the growth of the global cancer gene therapy market in the forecast period. An analysis of health claims data from two demographically similar regions on either side of the U.S. and Canada border shows that a common treatment for advanced colorectal cancer costs twice as much in Western Washington State (WW) than in British Columbia (BC) -- $12,345 vs. $6,195 monthly per patient. Despite the higher cost, the patients on the U.S. side of the border are not living longer than those on the Canadian side (source: American Society of Clinical Oncology, ASCO). Thus, the high cost of cancer treatment is a major factor restraining the market growth in the forecast period.
The Global Cancer Gene Therapy Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by Type, End-User and geography.
Based on type, the market has been segmented as Gene Transfer, Genetically Engineered Viruses, Immunotherapy and Others. On the basis of End-users, global cancer gene therapy market is segmented as Hospitals, Clinical Research Organisations, Biotech Companies and Research Institutes.
Regional analysis has been provided with detailed analysis and forecast for the period 2019 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the Cancer Gene Therapy market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in Cancer Gene Therapy market.